Question: Answer in this format please thank you very much. 36. Internal Rate of Return Analysis. Heston Farming Company would like to purchase a harvesting machine

 Answer in this format please thank you very much. 36. Internal

Rate of Return Analysis. Heston Farming Company would like to purchase a

Answer in this format please thank you very much.

36. Internal Rate of Return Analysis. Heston Farming Company would like to purchase a harvesting machine for $100,000. The machine is expected to have a life of 4 years, and a salvage value of $20,000. Annual maintenance costs will total $28,000. Annual savings are predicted to be $60,000. The company's required rate of return is 11 percent (this is the same data as the previous exercise) Required: a. Use trial and error to approximate the internal rate of return for this investment proposal. b. Should the company purchase the harvesting machine? Explain

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